TransMontaigne Extends Port Manatee Deal for 25 Years

Todays News

Gas will keep pumping through Port Manatee for decades more. That’s thanks to an extension between the Manatee County Port Authority and TransMontaigne Terminals approved last week.

“Port Manatee is pleased to extend its valued relationship with longtime tenant TransMontaigne for at least another quarter of a century – or for 50 more years if the lease option is exercised,” said Manatee County Commissioner Reggie Bellamy, chairman of the Manatee County Port Authority.

“This lease renewal is good news for motorists throughout our region and furthers the significant favorable impacts Port Manatee has upon Southwest and Central Florida.”

Transmontaigne has been delivering petroleum through Port Manatee since 1970. The Denver-based company maintains a 28.41-acre port tract on site. The new lease negotiated with the port ensures the company will keep operations running through at least 2046, with an option at that point to sign on for an additional 25 years.

The latest SEC reports filed in March lists Transmontaigne’s Gulf Coast operations as a strong asset. “Our Gulf Coast terminals consist of eight active product terminals and comprise the largest terminal network in Florida,” it states. The company has a presence at eight Florida ports. The Manatee County facility has the capacity for 1,408,000 gallons, more than any Florida facility except for Port Everglades North. The Florida ports collectively boast approximately 6.9 million barrels of aggregate active storage capacity.

Gas and other petroleum commodities move through the Transmontaigne facilities and serve such major companies as Pilot Flying J, Freepoint Commodities, RaceTrac Petroleum, Atlantic Trading and Marketing, Tesoro, Musket Corporation, BP, Associated Asphalt, Magellan Pipeline Company, the U.S. government, Valero Marketing and Supply Company, PMI Trading, Exxon Mobil Oil Corporation, World Fuel Services Corporation, Chevron Corporation, Shell, Marathon Petroleum, Gunvor and Vitol.

The business conducted by Transmontaigne makes a significant chunk of the $3.9 billion annual economic impact tied to Port Manatee.

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